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Explore Virginia agriculture and learn what makes it unique.
Agriculture is the largest industry in Virginia and the state ranks in the top 10 nationally for the production of several crops including Tobacco, Apples, Peanuts, and Turkeys. Overall the state ranks 29th in total agricultural sales in the US. There are more than 43,000 farms in Virginia with an average size of 180 acres covering 30% of the state's total land area.
$55/acre
3.8%
1.1%
$69
Current Rental Rate Per Acre
Cash Rent per Acre
Source: USDA
1.1%
Average Annual Cap Rate
Implied Annual Capitalization Rate
Source: USDA
| Year | Per Acre | Change |
|---|---|---|
| 2023 | $69 | 5.4% |
| 2022 | $65 | 6.6% |
| 2021 | $61 | -1.6% |
| 2020 | $62 | 5.1% |
| 2019 | $59 | -6.3% |
| 2018 | $63 | 5.0% |
| 2017 | $60 | 4.3% |
| 2015 | $58 | 2.7% |
| 2014 | $56 | 7.7% |
| 2013 | $52 | 6.1% |
| 2012 | $49 | 8.9% |
| 2010 | $45 | 3.4% |
| 2009 | $44 | 7.4% |
| 2008 | $41 | -10.0% |
| 2007 | $45 | 12.5% |
| 2005 | $40 | 2.6% |
| 2004 | $39 | 6.8% |
| 2003 | $37 | 1.4% |
| 2002 | $36 | -1.4% |
| 2000 | $37 | 2.2% |
| 1999 | $36 | 2.0% |
| 1998 | $35 | -4.1% |
| 1997 | $37 | 1.4% |
| 1996 | $36 | 0.8% |
| 1995 | $36 | -0.3% |
